Our market development work is important to achieving our statutory objective to promote competition in, reliable supply by and the efficient operation of the electricity industry for the long-term benefit of consumers.

If an anomalous event or outcome occurs in the market or the broader electricity sector, we investigate it to determine the causes and whether something can or should be done to prevent such an event or outcome from occurring again.

New Zealand’s smart meter rollout has largely been driven by three of the large electricity retailers who have used it as an opportunity to gain a competitive edge in the market. In most other countries where smart meters have been implemented the rollout has been mandated.

Carl Hansen, Chief Executive of the Electricity Authority says New Zealand’s approach is paying off for consumers. “Strong competition between retailers has meant the meters are being installed free of charge to consumers. In other countries, consumers have been charged up to $900 to have a smart meter installed.

“Customers are now also seeing the benefits of more innovative pricing and services, for example many retailers are now marketing special packages for those with smart meters, particularly to encourage and reward off-peak electricity usage.”

Smart meters also mean consumers are able to monitor their electricity usage more closely which can assist with reducing electricity consumption.

Genesis Energy has installed the most smart meters with 395,754 connection points (including those installed for its Energy Online brand).[1]

By April 2015 it is estimated there will be more than 1.2 million smart meters in New Zealand, with just over 800,000 of the traditional meters remaining.